Eurozone Economy Gains Momentum, Survey of Private Sector Shows
The eurozone economy perked up again this month, a private sector report showed on Friday, powered by continuing strength in Germany and surprisingly strong growth in France.
Purchasing managers across the eurozone, the 19-nation currency union, reported increased backlogs of work and an improvement in demand, leading companies to add workers at the fastest pace since August 2011, according to a survey by Markit Economics, a data analysis firm in London.
Markit’s composite output index for the eurozone came in at 53.5 for February, up from 52.6 in January. A number above 50 signals that the economy is expanding, while a figure below that suggests contraction. The purchasing managers’ data is thought by economists to provide one of the best snapshots of the economy.
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